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UK car-finance compensation plan finalized by FCA after mis-selling probe

( March 30, 2026, 15:58 GMT | Official Statement) -- MLex Summary: UK lenders are expected to pay £9.1 billion in compensation to customers who were mis-sold car finance, after the Financial Conduct Authority on Monday set out its final redress plan. The plan is less costly than the FCA’s proposal in October, which had estimated a potential £11 billion bill for the industry. The FCA has been working on the plan for months to compensate customers who were treated unfairly through discretionary commission arrangements — a practice that was banned in 2021 — as well as other commission structures deemed unlawful following a recent Supreme Court ruling.Statements are attached....

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